Police Send Helicopter to Disperse Drunk College Students

Was is absolutely necessary to bring in a helicopter to deal with some drunk Penn State students having a tailgate party? At first, police said yes. A statement from the campus cops claims they had no choice but to deploy a helicopter before Saturday’s football game, given “numerous law violations, including serious threats to officer safety within a disorderly crowd.”

“First, the tailgaters ignored commands to disperse from law enforcement on the ground,” Cpl. Adam Reed, a spokesperson for Pennsylvania State Police, tells The Patriot News. “The crowd began to turn unruly and two PSP horses were assaulted and a trooper was injured.”

The officer in question attempted to “subdue” a man who assaulted his horse and broke his hand in the process, Penn State police tell the Centre Daily Times. That man was eventually arrested.

The cops then abandoned their ground strategy in favor of an aerial one. A state police helicopter flew over the tailgaters, and the officers inside it used a loudspeaker to demand that everyone disperse. Video footage taken from the ground shows the helicopter hovering over the tailgaters, sending debris flying:

Ultimately, the aerial strategy worked. “Following the use of the helicopter, the dangerous behaviors dissipated,” university police’s statement read.

But several witnesses say the party wasn’t really out of hand, aside from the fellow who attacked the horse. Scott Olson, whose son attends Penn State, was tailgating next to the gathering that police were trying to disperse, which he described as a fraternity party. “It didn’t seem that crazy. It didn’t affect our side at all, but I guess some folks on the other side of the aisle had some issues with them, and they complained to police,” he tells the Times.

Penn State graduate Joshua Fulmer, who was also tailgating nearby, says police responded within 30 minutes of the party starting. “Nobody that I interacted with seemed overly intoxicated,” Fulmer tells the News. “Frankly, they weren’t there long enough to have gotten inebriated.”

Indeed, Olson thinks the helicopter may have posed a bigger threat than the tailgate itself. “Can you imagine if a helicopter sent debris that hit a horse and it got spooked and started trampling the kids?” he asks StateCollege.com.

Though they initially defended the tactic, university police later released a statement saying they would “discontinue use of a helicopter to make crowd announcements at football games pending an assessment.” The Federal Aviation Administration is investigating too.

Bonus links: In May, police in Rialto, California, called in a helicopter to confront three black women leaving an Airbnb. And in July, Pennsylvania State Police used a helicopter to follow a man they thought might be involved in a 10-plant marijuana grow “operation.” The man died after a trooper commandeered a bulldozer and accidentally ran him over.

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Donald Trump: Making America Economically Literate Again

|||Chris Kleponis/Polaris/SIPA/NewscomWhile expressing his displeasure with a New York Times report about his taxes, President Donald Trump inadvertently increased Americans’ interest in economic literacy.

The Times story accuses Trump of accumulating at least $413 million from his father’s real estate company using tax fraud and evasion. The authors of the report clarify that the dollar amount found in their investigation was adjusted to reflect its 2018 worth.

The adjustment is what Trump chose to criticize this morning:

Google trends show that searches for “time value of money” leaped mere minutes after the president tweeted.

I’ll spare you the Google search: The “time value of money” is not, in fact, a malicious calculation. In fact, it is key when exploring investments. Various factors, including interest rates and opportunity costs, help determine how much money will really be worth in several years. To borrow an example from the Houston Chronicle‘s Jim Woodruff: If someone were to give you the option of receiving $1,000 now or $1,200 in five years, it is possible that the $1,000 now would be more valuable by the time that $1,200 is scheduled to arrive. If you invested the $1,000 in a bond paying 5 percent, the money will be worth $1,276 in five years.

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Putin: Skripal Is “Traitor And Scum” And Not Some Rights Activist

Russian President Vladimir Putin has made a rare public comment in the Sergei Skripal case, calling the former double agent a “traitor” and “scum,” and adding that the sooner the media ‘noise’ around Skripal ends, the better, reports Russian state-owned network RT

Some media outlets are “pushing through a theory that Mr Skripal is some sort of a rights activist. He’s plainly a spy. A traitor to his homeland. There’s such a thing – being a traitor to the homeland. He is one,” Putin said on Wednesday, speaking at the Russian Energy Week International Forum in Moscow.

Imagine, if there’s a person in your country who betrayed it. How would you treat him?” Putin added. “He’s plainly scum.” –RT

Putin added that the whole Skripal situation had been blown out of proportion, and that “the faster [the media campaign] ends, the better.” 

21 people were hospitalized in March after being exposed to Novichok nerve agent that sent Sergei Skripal and his daughter Yulia to the emergency room. Neither died, however a second couple became critically ill from Novichok poisoning in July, leading to the death of a woman just a few miles away from where the Skripals were hit. The Skripals and the more recent victims are not connected. 

Two suspects accused of being Russian intelligence agents for the GRU were named by the UK, however they have denied the charges, saying that they were innocent tourists visiting Salisbury twice during a weekend trip to Britain. 

That said, a recently uncovered photograph on display at a Russian military academy is fueling speculation that the men are with the GRU. 

The photo, highlighted in an October 2 report published jointly by RFE/RL’s Russian Service and the open-source investigative website Bellingcat, builds on other recent reports that have used data from passport registries, online photographs, and military records to focus on a Russian man identified by British authorities as Ruslan Boshirov. –Radio Free Europe

Meanwhile Ukraine’s interior minister, Arsen Avakov have accused the men of helping to smuggle ex-president Victor Yanukovich to Russia in 2014 during a wave of street protests. 

“Interior Minister Arsen Avakov noted that one of the participants in the attack in the Salisbury, an officer of the GRU of the Russian Federation, had been recognised in Ukraine as a person who had been involved in transporting ex-president Yanukovich from Ukraine,” the minister’s statement said (via Reuters). 

Skripal prisoner exchange

Skripal was originally sentenced to 13 years in prison after Russia discovered that he had allegedly been paid $100,000 by MI6 to expose undercover Russian intelligence agents in 2006 – the same year Russian double-agent Alexander Litvinenko was poisoned. In 2010, however, Skripal was one of four prisoners released by Moscow in exchange for 10 US spies – after which he moved to the UK and befriended an employee of Christopher Steele. 

The Telegraph understands that Col Skripal moved to Salisbury in 2010 in a spy swap and became close to a security consultant employed by Christopher Steele, who compiled the Trump dossier. –Telegraph

A deleted LinkedIn account revealed that the British security consultant is based in Salisbury, and his employer is Orbis Business Intelligence – Steele’s firm. Steele notoriously assembled a series of memos containing anti-Trump opposition research to Fusion GPS, the first seventeen of which were compiled into the unverified “Trump-Russia” dossier which the FBI relied on to obtain a spy warrant against a Trump campaign associate. 

Why wouldn’t Putin like the guy? 

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One Trader’s “Simplistic Guide” To Q4: “Beware Of Wishful Thinking Mode”

Depending on where you look, Q4 has started off magnificently (Dow, Argentine Peso, BTP shorts) or dismally (US Small Caps, China, Euro) and amid low vol and high dispersion, former fund manager and FX trader Richard Breslow notes that everyone is hoping to latch on to some theme that will give a tradable trend to take us home for the year.

Actually, we should always be on the prowl for such a thing. But the need seems more acute than usual.

The problem is trends happen for a reason and don’t happen as a matter of convenience. It’s fine to think big, but you have to be realistic at the same time. And be very wary of cherry-picking the news items that suit, because the market may have a different list.

Via Bloomberg,

When in wishful thinking mode, it’s even more important than usual to ground yourself in the technicals. They are the only thing you know that won’t lie to you. And even if you are swinging for the fences, it doesn’t absolve you of the responsibility to put in the effort to take the low-risk opportunities that present themselves. You don’t have to be skint to pick up a dollar you see lying on the floor.

We’ll see what Friday’s non-farm payrolls report brings. The experts tell me not to expect any huge surprises.

And comments from Fed Chairman Jerome Powell yesterday may have made any outlier result less worthy of momentary panic than usual. His reaffirmation of everything he has been saying left us, not surprisingly, right where we have been for the last two weeks. Yet most of the people I talk to remain bearish. It’s a well-defined trade, whatever your view. May’s high yield at 3.126% is up top and 3% sits below.

If I was forced to trade it, I’d do it off my view of Italian assets. Path of least resistance versus safe haven.

Whether you look at the various dollar indexes or the component parts, the currency trades well. But it’s running into a lot of resistance levels. This may be the most interesting asset to watch because how it does up here could very well determine what happens to everything else. This is one where a breakout just might not be another false dawn like in August. I doubt we need to wait for the Treasury’s currency manipulation report to get our answer.

Equities continue to do nothing wrong. Although it’s fair to note that the S&P 500 has done nothing for two weeks. Keep an eye on the Russell 2000 which may be attempting a double bottom with today’s futures low matching that of July 30. The recent Russell sell-off may have been troubling the bigger caps but support is right here. I must say, if a decline of 5% doesn’t have broader repercussions, it’s very impressive.

Brent crude is grabbing lots of headlines for its current move. WTI looks somewhat more ambiguous. Both appear to be at a crossroads at current levels. And current prices don’t look stable. Treat these nimbly.

Italy is all about headline risk. But the Italian stock exchange’s MIB index, too, has decent technical levels.

Yesterday’s low lined up well with previous lows. Despite the news, we aren’t in uncharted territory. On the top side watch 21080, where Monday’s rally failed exactly where it should have.

The news is murky and caustic, but the charts couldn’t be clearer.

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WTI Tumbles On Biggest Crude Build In 19 Months

Modest overnight gains following API’s data have been erased as DOE reports a massive surprise (biggest since March 2017) crude build…

“We’re right in the middle of refinery maintenance season and you’ll probably see a lot of demand coming offline,” says Michael Loewen, a commodities strategist at Scotiabank. “It might take a few market participants by surprise to see a larger build than what we are used to in crude oil inventories”

API

  • Crude +907k (+1.5mm exp)

  • Cushing +2.018mm (+800k exp) [Genscape +600k]

  • Gasoline -1.703mm

  • Distillates -1.197mm

DOE

  • Crude +7.975mm (+1.5mm exp) – highest since Mar 2017

  • Cushing +1.699mm (+800k exp) [Genscape +600k] – highest since March 2018

  • Gasoline -459k (+1.25mm exp)

  • Distillates -1.75mm

Massive crude build shocks the market…

Bloomberg notes that you can’t really pin this week’s huge crude build on refiners. Gross inputs were little changed and are the highest ever historically for this week.

US Crude production held at record highs…

 

WTI hovered risght around $74 ahead of the DOE data, then dumped…

Bloomberg Intelligence Senior Energy Analyst Vince Piazza warns that with WTI approaching $80 a barrel, we believe oil has moved too far, too fast, notwithstanding reduced Iran exports because of sanctions and declining production from Venezuela. Demand destruction remains a concern due to elevated prices and geopolitics. We also expect heightened hedging by U.S. E&Ps at current prices, while trade tensions, robust production and seasonal refinery maintenance in the U.S. add to the negative price outlook.

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Watch: Indonesian Volcano Erupts, Spewing Toxic Ash Across Island Devastated By Tsunami

The Indonesian island of Sulawesi just can’t catch a break.

On Friday, a massive 7.5 magnitude earthquake rocked the Indonesian island, triggering a massive tsunami that wiped out buildings along the coastline and in the island’s capital city of Palu. At last count, the casualties had climbed above 1,300. But as if the island hadn’t suffered enough, its Soputan volcano erupted on Wednesday after months of heightened seismic activity.

The eruption sent an ash column as high as 4,000 meters into the air. Those plumes are now migrating north and northwest, while geologists have warned that another eruption could follow and assigned the volcano an alert level III, according to RT.

People living within 4 miles of the volcano’s summit are being advised to avoid the area due to potential threats of lava flow and dangers from the ash clouds. Locals who chose to stay in the vicinity of Soputan are being instructed to wear face masks to cover their nose and mouth to avoid respiratory problems.

No casualties have been reported from the eruption, and no property has been damaged. The volcano has continued to spew emissions while the Volcano Observatory Notice for Aviation has, meanwhile, updated its color code to Orange by the Ministry of Energy and Mineral Resources.

The National Agency for Disaster Countermeasures, which is still struggling with the deadly consequences of last week’s earthquake, said respirators are being provided to people living near the volcano who are at risk of breathing in a toxic smog spewing from the volcano. BNPB continues to monitor the situation as emergency crews were mobilized to provide respirators to the affected communities. Meanwhile, Sam Ratulangi International Airport in Manado City has continued to operate normally.

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“It’s Just Not Right”: Flake Blasts Trump’s “Appalling” Mockery Of Kavanaugh Accuser

After referring to Dr. Christine Blasey Ford’s testimony before the Senate Judiciary Committee last week, President Trump has apparently changed his mind (perhaps because he senses that Democrats will continue to do everything in their power to delay a confirmation vote on Judge Brett Kavanaugh for as long as possible). And at a rally in Mississippi Tuesday night, Trump pointed out several inconsistencies in Ford’s story about what transpired that summer night in 1982 in his characteristically animated fashion…

But despite the fact that his remarks were relatively measured (by Trump standards), the media swiftly condemned the president for his comments, claiming that he “mercilessly mocked” a survivor of sexual assault. Adding his voice to the chorus of outrage, Arizona Senator Jeff Flake chimed in during an interview with “Today” Wednesday morning, decrying the president’s “appalling” remarks” and insisting that “it’s just not right” and that “there is no time and place” for comments like that.

 

The senator then dodged a question about whether he felt that Judge Brett Kavanaugh was truthful during last week’s testimony.

While this dodge might suggest otherwise, Flake is still undecided as to whether he will ultimately vote for Judge Brett Kavanaugh to be confirmed. But even though Flake is preparing to retire from the Senate, there’s still pressure for him to fall in line. Because why risk jeopardizing that high-paying lobbyist job that’s coming his way once his term ends?

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Term Limits for Supreme Court Justices Won’t Save Us

Debates over the merits of lifetime appointments for Supreme Court justices are literally older than the Supreme Court itself.

Alexander Hamilton tackled the question in Federalist 79, contrasting the lack of any limits on Supreme Court justices’ tenure with the rules for judges in New York State, which at that time forbade anyone over age 60 from serving on the bench. Hamilton ultimately dismissed worries about judges becoming unable to discharge their duties in advanced age—”The deliberating and comparing faculties generally preserve their strength much beyond that period in men who survive it”—and concluded that those worried about a “superannuated bench” have an “imaginary fear.”

More than two centuries later, there is still no limit on how long Supreme Court justices may serve. That makes the Court an outlier not just among global democracies but within the United States. Most states have mandatory retirement ages for judges (usually at age 70 or 75), and some require sitting judges to face the voters at predetermined intervals for up-or-down retention elections.

Many of the arguments in favor of placing limits on judges’ tenure are the same as they were in Hamilton’s day: concerns about the mental fortitude of elderly jurists, or of a Supreme Court that grows out of touch with the nation whose laws it reviews. Unlike in Hamilton’s time, though, it is hardly uncommon for judges to remain on the bench well past age 60. Indeed, the average age of the eight current Supreme Court justices is over 67 years. Justice Ruth Bader Ginsberg, who is 85, says she wants to remain on the court until she is 90.

But the acrimonious fight over whether Judge Brett Kavanaugh should be given one of those lifetime appointments has introduced a new angle to this age-old debate. Term limits “would make the current system fairer—and tone down the intensity of the confirmation process,” David Leonhardt opined in the The New York Times last month. It would also impart other benefits, he added: removing aging judges from the high court, for example, and giving the Senate a predicable schedule for handling its advice-and-consent duties.

Since we’re facing the prospect of a Supreme Court with a solidly conservative majority for the foreseeable future, it’s probably not surprising that term limits are generating new interest on the left. Ezra Klein has already drawn a link between Kavanaugh’s contentious confirmation process and reality of a lifetime appointment. His Vox colleague Lee Drutman has been more explicit, writing in June that “it’s time for term limits for Supreme Court justices.”

“If justices were staggered in their terms, everyone in Washington would know they’d have another opportunity to change the Court again soon enough,” he wrote. “This regularity could also move toward more of a norm of fair play.”

The most well-formed plan for term limits comes from Fix The Court, a nonpartisan group interested in making the Supreme Court more open and accountable. (They also favor TV coverage of oral arguments and making judges file annual financial disclosures.) Fix The Court favors fixed 18-year terms, allowing every president to nominate a justice in the first and third year of each term.

If 18-year term limits had been imposed in the past, the current makeup of the Supreme Court would change only slightly. Right now there are four justices nominated by Democratic presidents and four (soon to be five) nominated by Republicans. Using Fix The Court’s system, the current court would have a 5–4 Republican slant, with President Donald Trump getting ready to replace one of President George W. Bush’s picks next year.

This arrangement, the group says, would solve “key problems with the court that have led to the extreme partisanship and harmful polarization we see today.”

This appeal to civility is one that might find a receptive audience after the rancorous Kavanaugh hearings. Would term limits (or age limits), and the predictability they provide to the presidents and senators responsible for choosing and confirming Supreme Court justices, save us?

Probably not. Would the stakes really be that much lower if Kavanaugh were in the running for an 18-year term on the court? With everything else being equal—in other words, with the current conservative-liberal split and the potential fate of abortion law hanging on the outcome—the promise that Kavanaugh would merely sit on the bench until 2036 would probably not bring Democrats down from the barricades, nor would it make Republicans any less likely to push for his confirmation.

Orin Kerr, a law professor at USC Gould and a contributor to the Volokh Conspiracy blog (which Reason publishes), is similarly skeptical—though as we’ll see, he favors term limits for other reasons. “It would still be one politician doing the nominating and 100 politicians doing the advising and consenting,” he says. “It’s an inherently political process.”

The politicization of the Supreme Court is worrying, but fixing it is a larger project than merely setting fixed terms for justices. As Sen. Ben Sasse (R–Neb.) observed during the early stages of the Kavanaugh confirmation process, the heightened role of the Supreme Court has as much to do with the failings of the other branches of government as it does with anything inherent to the court itself.

“When we don’t do a lot of big actual political debating here, we transfer it to the Supreme Court, and that’s why the Supreme Court is increasingly a substitute political battleground in America,” said Sasse. “It is not healthy.”

Even if judicial term limits aren’t a bulwark against a hyper-partisan environment that’s increasingly spilling over into the Supreme Court, the idea is worth considering for other reasons.

For one, people seem to like it. A Morning Consult/Politico poll conducted in July—just after Justice Anthony Kennedy announced his retirement—found that 61 percent of voters favored term limits for Supreme Court justices, including majorities of Democrats, Republicans, and independents.

For another, it would openly acknowledge something everyone already knows: that control of the Supreme Court is a reward for electoral success.

The Founders intended lifetime Supreme Court appointments to buffer the justices from political interests, but it’s clear now—if it wasn’t already when Republicans held a vacant seat on the court open for the final year of President Barack Obama’s term—that both sides view Supreme Court appointments as the spoils that come from controlling other branches of government.

If the high court is going to be politicized anyway, it makes sense to have those seats be democratically accountable.

“If the Supreme Court is going to have an ideological direction—which, for better or worse, history suggests it will—it is better to have that direction hinge on a more democratically accountable basis than the health of one or two octogenarians,” says Kerr.

Imposing term limits would require a constitutional amendment, which may be an impossibly heavy lift. It’s also not clear how the transition would work: Which current justice gets the boot first? And it’s not difficult to envision stumbling blocks once the system was up and running. Fix The Court’s proposal would have presidents nominating judges in the first and third years of each term, but there’s no mechanism to stop, say, a Republican-controlled Senate from refusing to have a vote on a Democratic president’s third-year nominee and holding the seat open.

There would be unintended consequences too. Knowing that the winner of a presidential election will get two Supreme Court nominees could change the behavior of voters and candidates, possibly making presidential contests even higher-stakes affairs than they are now, when winning carries only the possibility of influencing the makeup of the court.

In all likelihood, nothing will change. We will continue to muddle through with the same broken process. Term limits, or the lack thereof, will not fix the underlying problems plaguing all aspects of the Kavanaugh confirmation process.

It may be that the questions about how long a judge should serve are as impossible to answer today as they were in 1788 when Hamilton was writing about them.

“The result, except in the case of insanity,” he concluded in Federalist 79, “must for the most part be arbitrary.”

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US Services Economy Slumps To 8-Mo Lows Or Explodes To 21-Year High

Following mixed survey data on US Manufacturing, it was even more insanely divergent in September…

Markit US Services PMI dropped to 53.5 – lowest since January (better than expected 53.0 and flash 52.9)

ISM US Services explodes to 61.6 – the highest since August 1997

Markit US Manufacturing rose to 55.6 – highest since May

ISM US Manufacturing dropped to 59.8 – lowest since July

WTF!

 

Despite the drop in US Services PMI to 8 month lows, they report the pace of job growth at its fastest since June 2014 and prices charged surged to a record high.

ISM Services exploded to its highest since 1997 (2nd highest on record) as Bloomberg notes the reading topped all estimates in Bloomberg’s survey of economists, underscoring continued strength at service companies amid solid consumer demand underpinned by tax cuts and plentiful jobs. While ISM’s headline non-factory index dates to 2008, unofficial calculations based on earlier readings of components show the index is the highest since reaching 62 in August 1997.

The record employment reading is a positive signal before the official U.S. jobs report Friday.

  • Gauge of new orders advanced to 61.6 from 60.4

  • Measure of export orders rose to a five-month high of 61 while import gauge increased to 55, matching highest since early 2017

  • Gauge of supplier deliveries advanced to 57 and prices paid rose to 64.2, both at four-month high

However, commenting on the PMI data, Chris Williamson, Chief Business Economist at IHS Markit said:

Service sector business growth has eased considerably since peaking back in May, but remains relatively solid. Some of the slowdown can be traced to capacity constraints, with new business once again rising at a steeper rate than firms were able to boost output.

Firms are hiring in increasing numbers to expand capacity, with the employment index from the manufacturing and services surveys rising to a level indicative of a further non-farm payroll rise in excess of 200,000.

“However, despite the increase in employment, many companies are clearly still struggling to meet demand, with strong inflows of new business causing backlogs of work to accumulate across the economy at one of the fastest rates seen since 2014.

“The combination of reduced spare capacity and robust domestic demand is driving prices charged for goods and services higher at a rate not seen since the global financial crisis.”

Wiliamson conclude:

“Combined with the manufacturing results, the September survey adds to signs that the pace of economic growth cooled to the lowest since January but continued to run close to a 3% annualised rate over the third quarter as a whole.

 

 

 

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Putin: Trump Is To Blame For Higher Oil Prices

Just hours after President Trump implicitly threatened Saudi Arabia with a withdrawal of military protection (a threat that was possibly inspired by OPEC+ ignoring Trump’s demands to raise production at its Algiers meeting last month) Russian President Vladimir Putin said out loud what many oil traders have been thinking: That the recent run up in oil prices is Trump’s own fault.

Putin

During a speech at the Energy Week conference in Moscow, Putin said higher prices are “to some extent the result of the US administration” and its decision to reimpose sanctions on Iran (which will take effect next month) as well as its sanctions against Venezuela – not to mention the disastrous US military intervention in Libya, which was masterminded by Trump’s erstwhile political rival, Hillary Clinton. Before Trump decided to withdraw from the Iran deal, OPEC and other major exporters (including Russia) had more or less pushed the global market back into balance after several years of oversupply. Putin also said he believes a “good range” for oil prices would be between $65 and $75 a barrel and that Russia has the capacity to ramp up production by 200,000-300,000 barrels a day (and according to media reports, Russia is indeed planning to ramp up production through the end of the year).

“President Trump has said he thinks the oil price is too high. Well, probably to some extend he’s right, but we are absolutely OK with it at $65 to $75 per barrel to ensure the efficient operation of oil companies and ensure investment,” Putin said Wednesday during an address to delegates at the Russia Energy Week forum in Moscow.

“But let’s be frank, such oil prices are to some extent the result of the U.S. administration. I’m talking about sanctions against Iran, about political problems in Venezuela and just looking at what’s happening in Libya.”

Trump has criticized OPEC for agreeing to cut production at its meeting in Vienna nearly two years ago, and has since urged Saudi King Salman to push prices lower. Later in his speech, Putin vowed that Russia would complete the Nord Stream 2 gas pipeline to Germany on its own even if EU partners are forced to abandon the project due to US sanctions.

* * *

Here’s a roundup of BBG headlines from Putin’s speech:

  • PUTIN: IT WOULD BE BETTER IF TRUMP DIDN’T INTERVENE TO TRY TO MANAGE OIL MARKETS
  • PUTIN: GEOPOLITICAL FACTORS LARGELY BEHIND OIL PRICE
  • PUTIN: OIL PRICE INCREASE IS MORE RESULT OF IRAN EXPECTATIONS
  • PUTIN: ALL PARTICIPANTS OF OPEC+ DELIVERED ON THEIR PROMISES
  • PUTIN: TOGETHER WITH OPEC WE ACHIEVED MARKET RE-BALANCING
  • PUTIN: WE WILL BE GOOD AT $60, $65 OR $70 OIL PRICE
  • PUTIN: LIBYA, VENEZUELA ALSO CONTRIBUTING TO OIL PRICE

* * *

We now wait for the president to respond, perhaps with a tweet that once again blames Saudi Arabia for higher oil prices.

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